PINless Debit Payments — Here we go again…

This past January the media was flooded with articles quoting Whole Foods Market statistics, saying that their mobile payment volume grew 400% due to Apple Pay. Now, here we are in March, and almost nobody is talking about the recent meteoric growth in PINless debit payments. Since January 2015, some issuers have seen their PINless debit payment volumes increase by more than 500%.

Why is Apple Pay, a payment accepted at only 2% of Point-of-Sale (POS) locations nationally, getting all the buzz while PINless Debit, a faster growing emerging payment, capable of being accepted at millions of e-commerce and POS merchants, is hardly getting mentioned?

A brief history of PINless debit payments

To explain what’s happening, let’s start with some history. PINless debit payments refer to debit card ...

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